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You may be able to decipher your unclear handwriting, but you probably can't read it as quickly and easily as you could if it were neater. Additionally, the right business hand ("hand" is the handwritten corollary to "font") would allow you to write much more quickly than you do now (in addition to being neater).
I highly recommend Write Now by Barbara ...

Summary: learn how to form the letters correctly (unlearn bad habits) and practice, practice, practice.
Personally, I addressed this same problem by:
Purchasing a fountain pen that I really wanted, so that the act of writing was less of a chore and something that I actually began to enjoy. Doesn't have to be a fountain pen, the point is this new "toy" ...

I faced this problem once. I just went to the local bookstore and bought myself a kindergarten book on cursive writing. Finish the book one page per day and notice the change! Repeat whenever you're slacking. :)

This is just one factor, but you can't write well if the muscles in your hand are cramping.
This article helped me realize why my hand hurt while writing. To keep your hand comfortable you need to use the muscles of your forearm and shoulder, and not your fingers. It's not a matter of fine motor skill, it's using the right muscles.

In my opinion, the secret to good handwriting is practice and a fountain pen. I have also found that writing in Cursive Style in a double line notebook helps in improving ones handwriting. But you have to patient as writing will not improve overnight. As mentioned earlier, it will take a lot of practice before changes are noticeable.

There are two key questions:
Is it legible to you?
Do others read your notes?
If you can't instantly decipher what you've written, then you're wasting some time. Instead of aiming to "perfect" your handwriting, a more useful goal would be to get it to the point where you can comprehend what you've written without issue.
The above applies if you're the ...

While there certainly are things to do to improve your overall handwriting, this most likely takes a lot of time since you'll have to unlearn years of bad habits.
Why not try to keep your handwriting down to a minimum, and type whenever possible, and then, when it's unavoidable, try to print as slowly as possible. Larger letters and bigger spacings help here ...

The answer to your question is Yes and No, according to the context of your work and definition of your goal. Let me elaborate:
Yes:
If you have lots of tasks that involve writing on paper, such as essays that are evaluated.
If you want to keep an example of good penmanship before your kids or friends.
If you have to take notes from lectures and you ...

Research shows: the fastest and most legible handwriters avoid cursive. They join only some letters, not all of them: making the easiest joins, skipping the rest, and using print-like shapes for those letters whose cursive and printed shapes disagree.
Besides the Getty-Dubay WRITE NOW (an excellent textbook), there are other Resources for learning to write ...

Fine motor skill is good for better handwriting. You can try pen spinning or sleiting to improve your handwriting. And this just is interesting :)
Pen spinning
Pen spinning is a form of object manipulation that involves the deft manipulation of a writing instrument with one's hands.
from Wikipedia article (there is good gif image inside)
Good videos ...

Do you write more than you type? If not, focusing on your typing speed seems fine. Just bring a computer or iPad to meetings. If you do write a lot, learning/creating your own abbreviation system could help. Writing less characters means being less rushed to write them sloppily.
That said, my handwriting has gotten steadily worse over time. I find ...

So is there any potential value, productivity-wise, in taking the time to re-acquire this increasingly anachronistic grammar-school skill?
This suggests to me you already have some bias against improving your handwriting.
One of the questions that no one appears to have asked you is this: how would you measure your productivity gains if you put the ...

I am interested that most of the answers here are about improving cursive penmanship, as I always find cursive to be much more difficult to read than printing--something that I imagine is becoming even more true as people are exposed to less long-hand penmanship and more computerized typography.
I stopped using cursive for anything except my signature in ...

There are 3 basic steps to learning to write better in a practical way as I have done myself to improve my own handwriting:
Buy a good quality fountain pen.
Write daily and slowly almost one paragraph or more as per your comfort and time.
Have patience as it's a gradual process.
I hope you will start writing better in a few weeks.

Me, I keep a keyboard nearby. Failing that I carry a voice recorder and transcribe later. If what you have works for you then there's probably no need to go to the hassle of re-learning the skill. Myself, I have two young children and I'm thinking about fixing up my handwriting as they are giving me grief about my horrible chicken-scratch script.